MIRA INFORM REPORT
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Report Date : |
20.01.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. UNILEVER INDONESIA Tbk |
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Formerly Known As : |
P.T. UNILEVER INDONESIA |
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Registered Office : |
Graha Unilever
Building, Jl. Jend. Gatot Subroto Kav. 15, Jakarta 12930 |
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Country : |
Indonesia |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
05.12.1933 |
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Com. Reg. No.: |
No.
AHU-AH.01.10-27259 |
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Legal Form : |
Public Listed
Company |
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Line of Business : |
Consumer Goods Manufacturing |
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No. of Employees
: |
6114 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
US$. 260.0 million |
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Status : |
Good |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Indonesia |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Name of Company
P.T. UNILEVER
INDONESIA Tbk
company Address
Head Office
GRAHA UNILEVER
Building
Jl. Jend. Gatot Subroto Kav. 15
Jakarta 12930
Phones -
(021) 5262112 (hunting)
Fax. -
(021) 5262046
P.O. Box - 1162 JAKARTA 10011
Email - info@unilever.com
Website - http://www.unilever.com
Building Area - 22 storey
Office Space - 2,400 sq.
meters
Region - Commercial
Status - Rent
Branches
All of big cities
in Indonesia
Factories
a. Jalan Ngagel No. 173-175
Surabaya, East Java
Phone - (031) 69301
b. Jalan Rungkut
Industri IV/5-11
Surabaya Industrial Estate Rungkut
Surabaya, West Java
Phones - (031) 811197
c. Cikarang Industrial Estate
Kabupaten Bekasi
West Java
Phones
- (021) 8934885-6
Fax. -
(021) 8934884
Date of Incorporation
a. 5 December 1933
as N.V. LEVER’s ZEEPFABRIEKEN INDONESIAN
b. In 1980 as
P.T. UNILEVER INDONESIA
c. 30 June 1997
as P.T. UNILEVER INDONESIA Tbk
Legal Form
P.T. Tbk
(Perseroan Terbatas Terbuka) or Public Listed Company
Company Reg.No.
The Department of
Law and Human Rights
a. No.
C-17533.HT.01.04.TH.2003
Dated 28 July 2003
b. No. AHU-51473.AH.01.02.Tahun 2008
Dated 15 August 2008
c. No.
AHU-AH.01.10-27259
Dated 22 August 2011
Company Status
Foreign Investment (PMA) Company
Permit by the Government
Department
The Capital
Investment Coordinating Board
a. No. Kep/77/Mekku/IX/1967
Dated 28 September 1967
b. No. 84/II/PMA/1990
Dated 23 May 1990
c.
No. 62/II/PMA/1997
Dated 21 April 1997
d.
No. 114/II/PMA/1998
Dated 5 October 1998
e.
No. 83/II/PMA/1999
Dated 11 May 1999
f. No. 241/II/PMA/2003
Dated 18 November 2003
g. No. 740/III/PMA/2004
Dated 29 July 2004
The Department of
Finance
NPWP No.
01.001.701.0-092.000
Holding
Company
UNILEVER
INDONESIA HOLDING B.V. (Investment Holding)
Affiliated/Associated Companies
A company member
of the UNILEVER Group
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized
Capital - Rp. 76,300,000,000.-
Issued
Capital - Rp. 76,300,000,000.-
Paid up
Capital - Rp. 76,300,000,000.-
Shareholders/Owners :
a. UNILEVER INDONESIA HOLDING B.V., - Rp. 6,484,877,500.- (85%)
b. The Publics -
Rp. 1,145,122,500.- (15%)
BUSINESS ACTIVITIES
Lines of Business
:
Consumer Goods Manufacturing
Production
Capacity :
A. Initial Unit
a. Detergent Cream Powder and Bar
- 37,200 tons p.a.
b. Detergent Liquid and Scourer -
8,600 tons p.a.
c. Toilet Soap
- 42,500 tons p.a.
d. Loundry Soap - 50,000 tons p.a.
e. Sulphonic Acid - 6,000 tons p.a.
f. Crude Glycerin - 6,750 tons p.a.
g. Refined Glycerin - 2,200 tons p.a.
h. Refined Oil - 67,000 tons p.a.
i. Margarine - 39,000 tons p.a.
j. Bakery Fat - 17,500 tons p.a.
k. Cooking Oil and Fat - 5,000 tons p.a.
l. Soupstock - 600 tons p.a.
m. Specified Coconut Cream - 1,200 tons p.a.
n. Spread -
3,000 tons p.a.
o. Tooth Paste - 15,000 tons p.a.
p. Shampoo & Conditioner - 14,000 tons p.a.
q. Hair Cream - 1,950 tons p.a.
r. Lotion -
450 tons p.a.
s. Deodorant - 3,000 tons p.a.
t. Face Care - 1,750 tons p.a.
u. Sanitary Napkin - 5,000 tons p.a.
v. Baby Set -
300,000 sets p.a.
w. Mixtalot - 1,200,000 ltrs. p.a.
x. Tooth Brush - 2,000,000 pcs. p.a.
y. Tea - 1,000 tons p.a.
z. Coffee - 1,000 tons p.a.
aa. Ice Cream - 9,000 tons p.a.
B. Expansion Unit
a. Waterbased Adhesive - 4,000 tons p.a.
b. Hotmelt Adhesive -
3,000 tons p.a.
c. Solventbased Adhesive - 3,000 tons p.a.
d. Food Processed -
30,000 tons p.a.
Total Investment :
A. Initial Unit
a. Owned Capital -
US$ 154.15 million
b. Loan Capital -
US$ 10.00 million
c. Total Investment -
US$ 164.15 million
B. Expansion Unit
a. Owned Capital - ---
b. Loan Capital -
US$ 12.0 million
c. Total Investment -
US$ 12.0 million
Started Operation :
1933
Brand Name :
UNILEVER INDONESIA
Technical Assistance :
MAVIBEL B.V., of the Netherlands
Number of Employee
:
6,114 persons
Marketing Area :
Domestic -
95%
Export - 5%
Main Customer :
Supermarket,
Hypermarket, Mini-market, Retail Shops, Tradition Market, etc
Market Situation :
Very Competitive
Main Competitors :
a. P.T. WINGS
SURYA
b. P.T. SAYAP MAS UTAMA
c. P.T. TANCHO
INDONESIA
d. P.T. ABC
CENTRAL FOOD INDUSTRIES
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
Bankers :
a. P.T. Bank MANDIRI Tbk.
Jl. Gatot Subroto Kav. 36-38
Jakarta SElatan
b. P.T. Bank NEGARA
INDONESIA Tbk
Jl. Jend.
Sudirman Kav.1
Jakarta Pusat
c. CITIBANK N.A.
Jl. Jend. Sudirman
1
Jakarta Pusat
d. ABN-AMRO Bank
NV
Jl. Jend. Sudirman
Kav. 52-53
Jakarta Selatan
Auditor :
KAP Tanudiredja, Wibisana & Rekan
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales :
2007 – Rp.
12,544.9 billion
2008 – Rp.
15,577.8 billion
2009 – Rp.
18,246.9 billion
2010 – Rp.
19,690.2 billion
2011 – Rp.
17,322.2 billion (as of 30 September)
Net Profit :
2007 – Rp. 1,964.7 billion
2008 – Rp. 2,407.2 billion
2009 – Rp. 3,044.1 billion
2010 – Rp. 3,387.0 billion
2011 – Rp. 3,026.2 billion (as of 30 September)
Payment Manner :
Promptly
Financial Comments :
Very healthy
KEY EXECUTIVES
Board of Management :
President Director - Mr. Maurits Daniel Rudolf Lalisang
Directors - a. Mr. Franklin Chan Gomez
b. Mr. Biswaranjan Sen
c. Mr. Joseph Bataona
d. Mrs. Ira Noviarti
e. Mrs. Debora Herawati Sadrach
f.
Mrs. Okty Damayanti
g. Mr. Hadrianus Setiawan
Board of Commissioners :
President Commissioner - Mr. Jan Zijderveld
Commissioners - a. Mr. Erry firmansyah
b. Mr. Cyrillus Harinowo
c. Mr. Bambang Subianto
Signatories :
President Director (Mr. Maurits D.R.
Lalisang) or one of the Directors (Mr. Franklin Chan Gomez, Mr. Biswaranjan
Sen, Mr. Jospeh Bataona, Mrs. Ira Noviarti, Mrs. Debora Herawati Sadrach, Mrs.
Okty Damayanti and Mr. Hadrianus Setiawan)
which must be approved by the Board of Commissioners
CAPABILITIES
Management Capability :
Excellent
Business Morality :
Good
Credit Risk :
Low
Credit Recommendation :
Credit can be proceeded promptly
Proposed Credit Limit :
Fairly large amount
Maximum Credit Limit :
US$. 260.0 million on the 90 days of payments
OVERALL PERFORMANCE
Originally named N.V. LEVER's ZEEPFABRIEKEN INDONESIAN, the company was established in 1933 with an authorized capital of N.Fl. 1,000,000.- and an issued capital of N.Fl. 200,000.- entirely paid up. The company was founded by LEVER BROTHERS Limited of the United Kingdom and N.V. MARGARINE UNIE of the Netherlands as the original shareholders. Its notarial articles of association were revised several times. In 1980 the company was merged with two affiliated companies (P.T. VAN DENBERGH'S Fabrieken Indonesia and P.T. OLIEFABRIEK ARCHA) and was renamed P.T. UNILEVER INDONESIA. On this occasion its capital structure was converted into Rupiah, and the authorized capital was set at Rp 76,300,000,000.- with the issued and paid up capital amounting Rp 71,517,000,000.-. Then in 1980, P.T. UI was approved to go public and sold 15% of its shares to the Indonesia community.
On June 30, 1997 the word Terbuka (Tbk) was added behind the name of being P.T. UNILEVER INDONESIA Tbk., or P.T. UIT. Concurrently, the authorized capital of the company is Rp. 76,300,000,000.- entirely was issued and fully paid up. The shareholders of the company are Maatschappij Voor BELEGGINGEN (MAVIBEL) of the Netherlands (85%), P.T. DANAREKSA of Indonesia (5.3%) and the publics (9.7%). This Articles of Association amendment was approved by the Minister of Law and Human Rights of the Republic of Indonesia by virtue of Decision Letter No. AHU-51473.AH.01.02.Tahun 2008 dated 11 August 2008.
The latest pursuant to annual report of the company, as of 30 September 2011, the shareholders of the company are UNILEVER INDONESIA HOLDING B.V., of the Netherlands (85%) and the Publics (15%). This Articles of Association amendment was approved by the Minister of Law and Human Rights of the Republic of Indonesia by virtue of Decision Letter No. AHU-AH.01.10-27259 dated August 22, 2011. No changes have been effected in term of its shareholding composition and capital structures to date.
P.T. UIT is engaged in consumer goods manufacturing. The company operates three big plants, two of them are located in Surabaya, East Java and one in West Jakarta. The plants produce various types of cosmetics and toiletries, including toilet soap, shampoo, conditioner, deodorant, perfumes, skin preparations, tooth paste, pomade, washing soap, food seasoning, cooking oil, margarine, various floor cleansing materials and other products. In 1992, P.T. UIT expanded to build a new factory in Cikarang Industrial Estate, Bekasi, West Java. Besides, the company has diversified its business in the field of ice cream manufacturing.
The products are marketed under WALLS brand with a success marketing strategy to compete with other well-known brands. Since the early 1997, the whole activities in west Jakarta factory have been moved to the new factory in Cikarang, West Java. P.T. UIT commands a very wide marketing network through out the country. Some 5% of the products is exported to various Southeast Asian countries (ASEAN), the Middle East, Hong Kong, the Netherlands, Australia, etc.
Besides, P.T. UIT is also in cooperation with P.T. AQUA GOLDEN MISSISSIPPI for LIPTON Tea production and marketing, with P.T. SARIWANGI TEA for tea production and marketing, and with P.T. CIPTA YASA PANGAN MANDIRI for Goldfrost frozen dough production and marketing. By standards applying to companies in Indonesia, P.T. UIT is now the biggest in the cosmetics and toiletries industry and in the production of several food-related products such as cooking oil, margarine, food spices and other items.
In September 2003, P.T. UIT acquired light food plant of TATO and its facilities in Bogor, West Java. They plan to invest US$ 4,500 million in coming ten years particularly in modernizing supply facilities in the frame of export planning. Other steps are by ceasing unpopular brands in the market. Consequently the brands will be lessening from 60 brands to only 30 brands.
In January 2004, P.T. UIT acquired 99.99% shares of P.T. KNORR INDONESIA, a producer of processed food under BESTFOODS brand worth US$ 516,032.- In April 2004, P.T.UIT acquired the rest of the shares of P.T. KNORR INDONESIA of which its entire (100%) shares are owned by P.T. UIT. Furthermore, the business of P.T. KNORR INDONESIA is merged into P.T.UIT with the expectation of is sales value and profit obtained by P.T. UIT will increase in the coming years.
We observe that P.T. UIT is a large sized company in Indonesia dealing with consumer goods industry and distribution. Presently the company is a big player in its tea drink under brand of LIPTON Tea, FRESH Tea and SARI WANGI Dip Tea. SARI WANGI is the pioneer of dip tea products in the country. LIPTON and FRESH Tea gained tight competition from The Botol SOSRO, Teh KITA, S-Tea and others. Beside, WALL’S Ice Cream has to face tightly with ice cream of CAMPINA, DIAMOND, MEIJI, WOODY brands and others.
Pier Luigi Sigismondi, Unilever‟s Chief Supply Chain Officer said, „Unilever, as the emerging markets consumer goods company has set itself an ambitious goal – to double the size of our business whilst reducing our environmental impact. These new facilities will help us to continue to grow in Indonesia, an important market in which we have strong category positions across our portfolio, as we do across South East Asia.
“These markets contribute significantly to the 54% that Unilever currently generates from emerging markets, a figure we expect to rise substantially over the next ten years. We are excited by the enormous possibilities these markets offer and more investments will undoubtedly follow.”
The new facilities were officially unveiled at an opening ceremony by Bapak Hatta Rajasa, Co-ordinating Minister for Economic Affairs, in front of several distinguished guests and the Unilever Board. This investment is part of a €550 million, for three-year investment programme in Indonesia (2010 – 2012) to enable Unilever to leverage its leading position in developing and emerging markets by enabling sustainable and profitable growth.
Maurits Lalisang, Chairman Unilever Indonesia added, “With almost 80 years of Unilever history in Indonesia, we have demonstrated long-term commitment to its growth and prosperity so far. Our continuing and significant investment in Indonesia shows that we are equally committed to Indonesia's future growth, economic and environmental development.”
According to financial statement audited by Tanudiredja, Wibisana & Rekan, a noted public accountant, the total sales turnover of P.T. UI in 2007 amounted to Rp. 12,544.9 billion with a net profit of Rp. 1,964.7 billion, increased to Rp. 15,577.8 billion with a net profit of Rp. 2,407.2 billion in 2008 to Rp. 18,246.9 billion with a net profit of Rp. 3,044.1 billion in 2009 and rose again to Rp. 19,690.2 billion with a net profit of Rp. 3,387.0 billion in 2010 with total assets of Rp. 8,701.3 billion. As of 30 September 2011, the company’s sales turnover was Rp. 17,322.2 billion with a net profit of Rp. 3,026.2 billion. So far we have never heard that P.T. UI has been black listed by Bank Indonesia (central bank) or detrimental cases being settled in local district court. Payment condition for domestic and overseas suppliers is good with the credit payment system of 1 month to 3 months. Financial statements of 31 December 2008, 2009, 2010 and as of 30 September 2011 are attached.
Previously the president director of P.T. UIT was Mr. Nihal Vijaya Devadas Kaviratne (65). But since December 2003 he was replace by Mr. Maurits Daniel rudolf Lalisang (61), has been working for Unilever Indonesia for 28 years and has held various senior positions. He was appointed as a member of the board of directors in 1991. Daily activities, he is assisted by Mr. Franklin Chan Gomez, Mr. Biswaranjan Sen, Mr. Jospeh Bataona, Mrs. Ira Noviarti, Mrs. Debora Herawati Sadrach, Mrs. Okty Damayanti and Mr. Hadrianus Setiawan, all are as directors. They have excellent reputation in consumer goods industry and trade. The management has maintained a wide business relation among private businessmen at home and abroad as well as among government sectors. So far we have never yet heard of the company’s management having been involved in business malpractices. We are sure that P.T. UNILEVER INDONESIA Tbk., is very feasible for normal business transaction.
Attachment:
PT. UNILEVER
INDONESIA Tbk
FINANCIAL
STATEMENTS
Per 31 December
2008, 2009, 2010 and As of 30 Sept. 2011
(In
million Rupiah)
|
DESCRIPTION |
30 Sept 2011 |
31 December |
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2010 |
2009 |
2008 |
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A. ASSETS |
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a. Current Assets |
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- Cash and Cash Available |
364,475 |
317,759 |
858,322 |
722,347 |
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- Trade debtors – allowance for doubtful |
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* Third Parties |
1,954,301 |
1,445,450 |
1,133,460 |
840,530 |
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* Related
Parties |
129,622 |
122,088 |
124,461 |
115,245 |
|
||
|
- Advances and other debtors |
178,159 |
185,095 |
90,252 |
38,148 |
|
||
|
- Inventories |
1,842,115 |
1,574,060 |
1,340,036 |
1,284,659 |
|
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|
- Prepaid Taxes |
46,927 |
51,533 |
13,399 |
31,113 |
|
||
|
- Prepaid Expanses and other advances |
71,184 |
52,145 |
41,781 |
71,253 |
|
||
|
Total Current
Assets |
4,586,783 |
3,748,130 |
3,601,711 |
3,103,295 |
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|
b. Non Current Assets |
|
|
|
|
|
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- Due to Related Parties |
-- |
-- |
-- |
2,674 |
|
||
|
- Deferred Tax Assets |
-- |
-- |
-- |
25,283 |
|
||
|
- Fixed Assets |
5,153,935 |
4,148,778 |
3,035,915 |
2,559,875 |
|
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- Goodwill |
61,925 |
61,925 |
68,371 |
74,817 |
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- Intangible Assets |
609,004 |
646,356 |
672,550 |
665,737 |
|
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- Advances to Employees’ Pension |
31,995 |
45,696 |
51,385 |
14,459 |
|
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|
- Other Assets |
53,228 |
50,377 |
55,058 |
58,596 |
|
||
|
Total Non Current
Assets |
5,910,047 |
4,953,132 |
3,883,297 |
3,401,441 |
|
||
|
TOTAL LIABILITIES TOTAL ASSETS = &
STOCKHOLDERS’
EQUITY |
10,496,830 |
8,701,262 |
7,484,990 |
6,504,736 |
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B. LIABILITIES &
STOCKHOLDERS’ EQUITY |
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a. Current Liabilities |
|
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|
|
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- Short-term loans |
468,000 |
190,000 |
-- |
-- |
|
||
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- Trade Liabilities |
|
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|
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* Third Parties |
1,974,624 |
1,612,672 |
1,358,070 |
1,028,699 |
|
||
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* Related
Parties |
321,882 |
203,921 |
71,621 |
67,974 |
|
||
|
- Tax Liabilities |
221,041 |
208,778 |
317,931 |
320,447 |
|
||
|
- Accrued Expenses |
2,269,000 |
1,460,974 |
1,481,827 |
1,336,761 |
|
||
|
- Dividend Liabilities |
-- |
-- |
-- |
-- |
|
||
|
- Other Liabilities |
507,111 |
726,595 |
359,739 |
337,230 |
|
||
|
Total Current Liabilities |
5,761,658 |
4,402,940 |
3,589,188 |
3,091,111 |
|
||
|
b. Non Current Liabilities |
|
|
|
|
|
||
|
- Amount Due
related Parties |
-- |
-- |
-- |
162,462 |
|
||
|
- Deferred tax liabilities |
56,856 |
49,939 |
27,252 |
-- |
|
||
|
-
Employee benefits obligations |
228,002 |
199,530 |
159,975 |
144,342 |
|
||
|
Total Non Current
Liabilities |
284,858 |
249,469 |
187,227 |
306,804 |
|
||
|
c. Minority Interest |
-- |
3,434 |
5,756 |
6,509 |
|
||
|
d. Stockholders Equity |
|
|
|
|
|
||
|
- Issued and Paid Up Capital |
76,300 |
76,300 |
76,300 |
76,300 |
|
||
|
- Additional paid up capital (Agio shares) |
15,227 |
15,227 |
15,227 |
15,227 |
|
||
|
- Revaluation to the Fixed Assets |
-- |
-- |
-- |
-- |
|
||
|
-
Balance arising from restructuring transaction
between entities under common control
|
80,773 |
80,773 |
80,773 |
80,773 |
|
||
|
- Appropriated retained earnings |
15,260 |
15,260 |
15,260 |
15,260 |
|
||
|
- Un-appropriated retained earnings |
4,258,598 |
3,857,859 |
3,515,259 |
2,912,752 |
|
||
|
- Equity attributable to owner of the company |
4,446,158 |
4,045,419 |
-- |
-- |
|
||
|
- Non-controlling interest |
4,156 |
3,434 |
|
|
|
||
|
Total Stockholders
Equity |
4,450,314 |
4,048,853 |
3,702,819 |
3,100,312 |
|
||
|
|
|
|
|
|
|
||
|
C. INCOME STATEMENTS |
|
|
|
|
|
||
|
a. Sales – Net
|
17,322,170 |
19,690,239 |
18,246,872 |
15,577,811 |
|
||
|
b. Cost of Goods Sold |
(8,432,314) |
(9,485,274) |
(9,200,878) |
(7,946,674) |
|
||
|
c. Gross Profit |
8,889,856 |
10,204,965 |
9,045,994 |
7,631,137 |
|
||
|
d. Operating Expenses |
(4,839,145) |
(5,662,340) |
(4,831,103) |
(4,200,039) |
|
||
|
e. Operating Profit (loss) |
4,050,711 |
4,542,625 |
4,214,891 |
3,431,098 |
|
||
|
f. Other Income (Expenses) |
(3,151) |
(3,982) |
33,699 |
17,307 |
|
||
|
g. Profit (loss) before tax |
4,047,560 |
4,538,643 |
4,248,590 |
3,448,405 |
|
||
|
h. Income tax |
(1,021,379) |
(1,153,995) |
(1,205,236) |
(1,036,643) |
|
||
|
i. Profit (loss) before minority interest |
3,026,181 |
3,386,970 |
3,043,354 |
2,407,231 |
|
||
|
j. Minority interest |
-- |
2,322 |
753 |
(4,531) |
|
||
|
k. Net Profit |
3,026,181 |
3,386,970 |
3,044,107 |
2,407,231 |
|
||
Note: 31 December 2005, 2006, 2007 and 2008 audited by Tanudiredja, Wibisana & Rekan
(A member of PricewaterhouseCoopers)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.29 |
|
UK Pound |
1 |
Rs.77.60 |
|
Euro |
1 |
Rs.64.67 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.